Zosano Pharma Corporation filed a plan of liquidation with related disclosure statement in the US Bankruptcy Court on August 25, 2022. As per the plan filed, administrative expense claims, professional fee claims, priority tax claims, United States Trustee statutory fees, other priority claims of $0.03 million, shall be paid in full in cash. Secured claims and subordinated claims of $0 shall be paid in cash.

General unsecured claims of $12.30 million shall be recovered 28% i.e., $3.44 million and shall be paid in cash. Interests in the Debtor shall be cancelled and shall not receive any distribution under the plan. The plan shall be funded though cash and sale of assets.

Zosano Pharma Corporation filed a modified plan of liquidation in the US Bankruptcy Court on October 10, 2022. As per the plan filed, there is no change in treatment of any claim class or source of funding.